ParticularsAmount Rs. Turnover4,000,000 Purchases2,750,000 Stock as at 1st April -2019500,000 Other income40,000 Administration Expenses200,000 Selling and Distribution cost160,000 Finance Cost90,000 Other expenses60,000 Share capital1,500,000 Income tax148,000 Reserves618,000 Long term Bank Loan800,000 Other long term loans200,000 Creditors300,000 Other short-term payables1,200,000 Property, Plant and Equipments1,750,000 Investment250,000 Fixed Deposit950,000 Debtors1,000,000 Other receivables600,000 Cash and bank balance200,000 Additional InformationClosing Stock as at 1st April 2020 - Rs. 250,000Debt includes only long term liability (for the purpose of ratio Calculation) and Equity includes Share capital, Retained profit and Reserves. You are required to prepare,Income Statement for the year ended 31st March 2020.Statement of Financial Position as at 31st March 2020. You are also required to calculate,Gross Profit RatioNet Profit RatioCurrent RatioQuick RatioReturn On Asset ( ROA)Debt – Equity Ratio

Income Statement - An income statement's function is to reveal the financial transactions that…

Answered: Particulars Amount Rs.…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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100%

Particulars	Amount
Rs.

Turnover	4,000,000
Purchases	2,750,000
Stock as at 1^st April -2019	500,000
Other income	40,000
Administration Expenses	200,000
Selling and Distribution cost	160,000
Finance Cost	90,000
Other expenses	60,000
Share capital	1,500,000
Income tax	148,000
Reserves	618,000
Long term Bank Loan	800,000
Other long term loans	200,000
Creditors	300,000
Other short-term payables	1,200,000
Property, Plant and Equipments	1,750,000
Investment	250,000
Fixed Deposit	950,000
Debtors	1,000,000
Other receivables	600,000
Cash and bank balance	200,000

Additional Information

Closing Stock as at 1^st April 2020 - Rs. 250,000
Debt includes only long term liability (for the purpose of ratio Calculation) and Equity includes Share capital, Retained profit and Reserves.

You are required to prepare,

Income Statement for the year ended 31^st March 2020.
Statement of Financial Position as at 31^st March 2020.

You are also required to calculate,

Gross Profit Ratio
Net Profit Ratio
Current Ratio
Quick Ratio
Return On Asset ( ROA)
Debt – Equity Ratio

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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